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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.31

-1.1%

Nov 6 4:00 PM EST

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To: Box-By-The-Riviera™ who wrote (63364)	11/30/2000 9:23:59 AM
From: HairBall	Read Replies (2) of 99985

Joel Gander: YHOO seems to be near a point of consolidation. Will it be a reversal or a bearish consolidation…the price action will have to let us know! My Intraday/Daily – YHOO (Yahoo) Daily Semi-log Chart Falling resistance lines are not as strong as rising support lines. However, as with YHOO after such a topping process followed by an extensive decline, the charts often only leave falling support lines and horizontal support lines. As with rising resistance lines in uptrending markets, falling support lines in extensive downturns are more often violated than when formed in uptrend pullbacks. Of course, steep declining support lines as with steep rising resistance lines often portend at least a retrace as the rate of ascent or descent of the trend can not be maintained and at least, temporally exhaust. Using real time technical indicators coupled with SRLs one can get a feel which support is going to hold. YHOO is close to at least an intraday and possible a short-term reversal per my intraday indicators, but not yet supported by the dailies. If YHOO has not already begun a consolidation on the 28th, I believe the 32/33 area should support one. Of course, the overall market should influence this stock. lgscharts.homestead.com How to Interpret My Charts marketdirectionanalysis.homestead.com Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. Do not base any investment decision solely on any one person's views or analysis. Do your own research and take responsibility for your investment decisions.

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